J&J shrugs off deals with Aduro that were worth up to $1.2B. Setback forces shift to Novartis alliance now
Back in the spring of 2014, J&J inked the first of two licensing pacts for the year with Aduro, looking to benefit from the biotech’s approach to treating cancer. Altogether the pharma giant contributed a $30 million upfront, equity money as well as up to $1.2 billion in milestones.
And in one swift move they wiped the table clean last week and walked.
Posted inside an SEC filing, Aduro noted that J&J told them they were bowing out on September 25. ADU-214, ADU-741 and GVAX Prostate will soon revert back to Aduro, as J&J also abandons any rights to its attenuated Listeria tech for lung and prostate cancer.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.